Portrait of an Ascending Sovereign Credit slide image

Portrait of an Ascending Sovereign Credit

The labour market has been negatively affected by the Covid-19, is expected to return to growth in the second half of 2021 The government took swift actions to mitigate the unemployment growth during Covid-19 crisis; productivity growth is on the rise. 20 20 15 10 5 Unemployment: Headline Rate 80 80 75 70 0 65 660 Participation and Employment Rates (age 15-64, %) 55 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Headline unemployment Participation rate Employment rate Source: Eurostat (16.11.2021.) Source: Central Statistical Bureau of Latvia data (16.11.2021.) Real Productivity Growth Per Worker (2015-2020 average, %) Average Monthly Wage For Full-time Job (Y-o-y, %) 2.1 EU-27: 0,0% Latvia A+/A3/A- Estonia AA-/A1/AA- Czechia Austria France AA-/Aa3/AA- AA+/Aa1/AA+ AA/Aa2/AA Belgium AA/Aa3/AA- Source: Eurostat (20.10.2021.) 10 12 10 10 8 6 4 2 0 Q1'18 Q2'18 Q3'18 Q4'18 Q1'19 Q2'19 ■Real Net Wages Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q1'16 Q2'16 Q3'16 Q4'16 ■Gross Nominal Wages Source: Central Statistical Bureau of Latvia data (20.09.2021.) Q1'17 Q2'17 Q3'17 Q4'17
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